Over 1,80,000 prosecuted in China for financial fraud since 2018

Since 2018, procuratorial organs across China have filed charges against more than 1,80,000 people suspected of committing financial fraud and disrupting the financial management order.

More than 1, 10,000 people were prosecuted for illegal fundraising during this period, the Supreme People’s Procuratorate (SPP) said on Tuesday.

The SPP published three guiding cases recently as part of efforts to prevent and defuse financial risks. The cases involve illegal fundraising, currency counterfeiting and illegal business operations, all featuring new types of financial crimes.

The SPP said prosecutors will stringently crack down on offenses committed online and in the name of “financial innovation”